Nominee Director Singapore

Nominate a local nominee director in Singapore so that you can continue growing your business from anywhere in the world.
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Not physically present in Singapore for your business?

According to the Singapore Companies Act, every registered company in Singapore must appoint one Singapore resident director. The Companies Act requires every business owner who are a foreigner or a foreign entity in the country to employ a Singaporean citizen or permanent resident to hold a nominee director role. 

If you’re a foreigner who wants to incorporate your business in Singapore but does not necessarily want to relocate your company operations, why not utilize our nominee director services? At Mi2U, we support you with our nominee director services to assist you in meeting the regulatory requirements in accordance with Singapore’s labour law.

What Are Nominee Directors/Resident Directors?

In simpler terms, a resident director is an individual (either citizen, permanent resident or employment pass holder) that has a permanent address in Singapore who holds a director role in a company. 

For foreigners to carry out company incorporation in the country, the Singapore Companies Act requires them to employ a Singapore resident to hold the local resident director role in the company’s board of directors.

What is the Singapore Companies Act?

The Singapore Companies Act was first established in 1967 and has been amended from 2014 to 2017. Every company in Singapore are subject to this Companies Act as it oversees all business operations from incorporation to management. 

Some of the requirements and obligations that all companies in Singapore must take, include displaying company registration numbers in all business letters, financial and account statements, invoices, etc. and the employment of a Singapore resident to hold the local director role.

Non-compliance to the Companies Act can set many company owners in Singapore in a dire financial state. According to the Act, companies incorporated in Singapore must prepare their financial statements in accordance with the prescribed accounting standards by ACRA.

The Benefits of Nominee Director Services

Super flexible in terms of cost and time

No matter if you’re waiting for your work visa to be approved so you can receive your employment pass, or if you’re not planning to relocate to Singapore but still want to carry out your company incorporation within the country, hiring a nominee, for the time being, is a good idea that will not delay processing matters and is a legal solution to ensure compliance. 

Many foreigners who have businesses in Singapore are not well connected with local Singaporeans, hence it makes things difficult to hire someone they trust in a country that they’re not familiar with to take on a major role of director in their company. Hence, most would refer to nominee director service providers like Mi2U to satisfy Singapore’s legal obligations. 

Our nominee director services terms can be based on: 

  • Short term

If you are applying for an employment pass, you will need our resident director service on a temporary basis. Once your employment pass is approved, you will be able to take over as the local resident director.

  • Annual basis

If you are not relocating to Singapore, you will need our resident director service on an annual basis.

 

Ensure strict compliance with the law

A resident director hired by nominee director services is strictly there to ensure statutory compliance with the Singapore Companies Act. An individual with a ‘nominee’ position does not have an active, permanent role within the company’s business operations and do not have a direct influence in making management, financial and operational decisions within the company. However, nominee directors can still be prosecuted if found breaching the law, therefore it is extremely important to hire nominee service providers that are knowledgeable and experienced with Singapore’s legal requirements and make sure your company stays compliant with the law. 

At Mi2U, we help you mitigate this liability with our flexible nominee director services that can be short term or long term, and provide contractually binding agreements that ensure both you and the nominee director are aware of the responsibilities and boundaries of the role and remain strictly compliant to Singapore’s labour law in accordance to the requirements set by ACRA.

Incorporate Your Business with Mi2U

Building a company in Singapore is not something you can do in one night. Our team at Mi2U has a nominee director service that can provide you a person with extensive knowledge in the corporate world in Singapore and can help mitigate legal liabilities of your business and ensure smooth processing and registration of your company. We provide temporary, legal solutions to smoothen out the process of company incorporation so that you don’t have to worry about finding a permanent director in Singapore for your company in short periods of time. Once your company is properly set up and you meet all legal obligations, you can resume the role of resident director any time you want.

We let our experience speak for the quality of service that we provide our clients – we have assisted many business owners who are foreigners to meet Singapore’s legal requirements expected of them in terms of corporate secretarial services, employment passes, accounting services, filing tax returns and financial documents and meeting HR and payroll requirements that non-residents may not be familiar with. If you need help with your company, get in touch with us at Mi2U now!